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Big Banks Seek Exit From Suit Over Third-Party Investments

By Reenat Sinay ( May 15, 2020, 5:52 PM EDT) -- Four major banks including Citibank and Wells Fargo have urged a New York federal judge to toss a proposed consumer class action accusing them of failing to prevent or cover losses sustained due to a third party's fraudulent binary options scheme, arguing they are not liable for "poor investment decisions. ". . .

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